Today In Business | ITC To Buy Midwest Power Lines

Published: January 20, 2007

ITC Holdings, the only publicly traded electricity-transmission company in the United States, agreed to buy high-voltage lines from Alliant Energy for $750 million to capitalize on rising Midwest power demand.

The purchase includes 6,800 miles of power lines and related equipment in Iowa, Minnesota and Illinois, ITC said. The lines, which transmit power for Alliant's Interstate Power and Light utility, will extend the reach of ITC's network by 83 percent.